Circle K Hires NRC Realty in Chicago to Sell 306 Stores
Locations across the United States and Canada are to be sold in geographic groups only with a few individual sites offered, the deadline to inquire is May 7 of this year.
Circle K Stores Inc. engaged NRC Realty & Capital Advisors to coordinate and manage the sale of 269 locations in 29 states of the United States and 37 locations in six provinces of Canada. Of the 306 sites, 122 are wholly owned and 184 are leased, while 238 properties sell fuel and 68 are commodities only.
The stores have an average building area of approximately 2,600 square feet and an average lot area of 29,500 square feet.
“We are delighted to assist Circle K with this sale, and we expect great interest from a wide range of retailers, large and small, as well as other players who have expressed an active interest in the sale. ‘convenience store industry,’ said Evan Gladstone, director of NRC. General manager. “These stores are offered in packages, grouped mainly by geographic area, and offer many excellent opportunities for regional and local players to acquire attractive properties. “
The packages are subdivided into smaller pools. Offers will be considered for a single package, multiple or all packages, a single pool or any combination of pools. Offers on individual stores, or less than all stores in a pool, will not be considered except for a small number of stores which are offered as a pool on a single site.
The stores are all offered with or without refueling and without a convenience store sign.
Expressions of interest in stores will be due no later than May 7, 2021.
NRC provides a full range of real estate and financial advisory services to convenience stores and the petroleum industries in North America. NRC’s breadth of convenience store experience includes portfolio assessment and analysis; refinancing, recapitalization and sale-leaseback financing options; single-site portfolio and store sales and merger and acquisition advisory services.